The Fifth Third 1.67% Cash/Back card offers a flat 1.67% cash-back rate, derived from dividing five by three (or a “fifth third”). While this rate is slightly better than the 1.5% rate found on some other cash-back credit cards, it falls short compared to cards that offer 2% cash back on all purchases, like the Preferred Cash/Back Card from Fifth Third Bank.
Unfortunately, the Fifth Third 1.67% Cash/Back card lacks a welcome bonus and may not be the best option for those with good credit who qualify for higher rewards rates. Additionally, residents of Montana and Vermont are not eligible for this card.
Key Points:
1. The card has no annual fee but also no welcome offer.
2. Applicants need a Fifth Third account to apply for the card.
3. Better incentives are available with other credit cards.
4. Redemption options are flexible, including the unique feature of using rewards to pay down a mortgage.
5. The high APR of nearly 30% makes carrying balances costly and outweighs any cash-back benefits.
For those looking for better rewards, consider cards like the Wells Fargo Active Cash® Card or the Blue Cash Everyday® Card from American Express, which offer higher cash back rates and welcome bonuses. Keep in mind that high APRs on rewards credit cards can offset any benefits if you carry a balance.